Early last week I got a check in the mail from Wells Fargo for $150.
The letter said it was a redemption from a prior hold on my bank account.
Only thing is...
I've never had a bank account with Wells Fargo.
So I called them.
"I believe this is a mistake. And I don't want to deposit a check that isn't mine," I said.
"Well," the lady responded, "we can certainly look to see if there was fraud. But, the account is now closed. And the check was sent to you. So it's yours to deposit. Nothing we find in our investigation will change that."
"Well," I said, "I'd prefer to set the check aside and wait until the investigation is done. Again, I don't want to deposit a check that isn't rightfully mine."
"Okay," she said, "well then, we'll call you when the investigation is complete."
I've yet to hear back.
And the check is still sitting on my wife's desk.
For me it's simple and straight-forward:
Having integrity is about doing the right thing, all the time, even when no one is looking. Even when the actions may seem inconsequential.
I feel this is especially important when functioning as an entrepreneur. Especially online... where there are lots of shady ads, offers, and "experts".
You can either be one of the good ones... or... one of the bad ones.
Every choice you make, every decision you make, within your business... with your offers and marketing... moves you closer to one of those sides.
You choose. Every choice. Every decision.
With that, let's get to this week's goodies...
MY FAVS THIS WEEK
- The Definitive 100 Most Useful Productivity Tips
I highly recommend you save this PDF. You'll want to reference this thing, for sure.
According to the publisher, "We scoured hundreds of articles online and found the top 100 most frequently cited tips. We then ranked them using
their overall score on the below stats: Category, Utility, Difficulty."
In case you're interested in diving deeper, number one on the list, the highest rated productivity hack, is based on this article.
- 7 Practical Tips for Better Microcopy
This is based on improving copy and calls to action within a user interface.
But, there's gems which can be extracted and used for marketing.
I recommend you put this into a little outline, and save it for future reference as well.
- 5G Will Impact and Enhance the Consumer Journey
There's a lots of buzz around 5G. Some good, some bad.
Here's a quick little video which gives a high-level overview of how 5G could impact the consumer journey, and therefore, how marketing and advertising will need to adapt.
ODDITY FROM MY LIBRARY
If you ever struggle to come up with great names for products, offer bundles, bonuses, or lead magnets, this little book is a gem.
It's a quick read. And loaded with specific steps, exercises, criteria to follow. As well as naming mistakes to avoid.
Good, simple stuff.
It's based on the method and work of Eat My Words, a nationally recognized naming firm featured multiple times in the Wall Street Journal... and used with clients like Disney and Microsoft.
Well worth adding to your library.
WHAT I'M TELLIN' MY TEAM
This week on our internal marketing training...
I walked the team through the process for finding, developing, and naming the Unique Mechanism for a product.
The key part of this entire process is the depth which you interrogate the product and mechanism(s) behind how it works.
What do I mean by "interrogate"?
Well, the single most critical part of identify your Unique Mechanism -- which becomes the foundation of how you differentiate your product from every other option your prospects have -- is digging-in to how the product/service actually works to produce results.
Meaning: It's NOT just about slapping a whizbang name on your mechanism to make it sound unique; it's about fleshing-out what actually makes your product unique in how it works.
It's essential you have clarity on how your product or service uniquely works to deliver on your promises BEFORE you write a single word of copy for your marketing message.
TEAM TAKEAWAYS IN THREE BULLETS:
- Differentiating your solution is KEY! And it can only be done with one of two elements (or both): (1) a unique promise, (2) a unique mechanism. You either differentiate on the promise (claim no one has made before) or the mechanism (way the promise is delivered).
- The name is the least important part of the unique mechanism. It’s more important to be able to prove your UM is superior to every other option out there for delivering the primary promise. This requires clarity on how your mechanism works.
- Unless you do everything identical to everyone else in your market, at every stage of your process, you can identify a Unique Mechanism. There’s always reasons behind why you do what you do, and these reasons form the building blocks of your UM.
This question comes from inside the MFA Nation Facebook Group, posted by Valeriu Gavan.
Great response from MFA Nation Member, Paul Mascetta:
Cost per click (CPC) is relative.
It depends on your conversion rate and AOV.
For example, let’s say you have a 5% conversion rate and your AOV is $50. And your cost per click is $1.
That would mean you will get 5 sales for every 100 clicks.
With an AOV of $50 those five sales would be worth $250.
So that would mean you made $150 in profit.
If your AOV and conversion rate are less you would back those numbers out accordingly.
Same is true as your CPC goes up.
So the important questions are what is your conversion rate and AOV?
Then and only then can you know if your CPC is good.
Also knowing CLV will help as well.
My comment following Paul's:
As Paul shared above — you need both sides of the equation to know whether it’s good or not: cost per click and revenue per click.
This week I'm recommending a training resource, a YouTube video for you...
All about what to do if you have a marketing campaign which "isn't working".
Here's a little overview of what you'll hear:
0:00 - What do you do if your marketing campaign isn't converting?
0:30 - What does "isn't working" mean with your campaign?
1:04 - An example of diagnosing the problem with your marketing campaign?
2:10 - Media side or marketing side, how to know.
3:49 - Analyzing the marketing campaign step-by-step
8:20 - How do identify the solution?
8:36 - It's always one of these five elements
10:36 - The core job of your marketing message
11:27 - This is what's missing from most marketing funnels
12:11 - After diagnosing you must do this to find the right fix
PIC OF THE WEEK
Above are Rob and Kennedy, the hosts of 3 Marketers Walk Into A Podcast.
Below them is a snapshot of the little gift they sent me this week for being a guest on their show.
How cool is that!
Not only a handwritten thank you note, but a personalized mug as well.
Smart, savvy, and generous.
If you're interested, you can listen to the podcast episode we did... along with a bunch of shenanigans... here.
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